North Dakota regulators will hear testimony May 20 on whether oil production at current low prices amounts to wasting natural resources, potentially setting the stage for output restrictions, like those Continue Reading
Nine companies including Chevron Corp ( CVX.N ), Exxon Mobil Corp ( XOM.N ) and Alon USA Inc ALJON.UL have agreed to rent space to store 23 million barrels of Continue Reading
A gauge of Russian manufacturing slumped to the lowest level since records began in 1997 as lockdowns across Europe choked demand. The Manufacturing Purchasing Managers’ Index fell to 31.3 in April, Continue Reading
Russia’s oil sector has been at the center of virtually all developments in its modern history. Imperial Russia already produced oil in the early days of the industry from the Continue Reading
You can’t get much more of a “worse case scenario” in auto sales than watching numbers plunge an astounding 98%. But that’s exactly what has happened with new car sales Continue Reading
It would make sense for the OPEC+ coalition of oil producers to begin monitoring the group’s market share to measure how effective the OPEC+ actions are, Russian Energy Minister Alexander Continue Reading
Due to the OPEC+ production cut deal, Russia’s oil production could decline by 15 percent annually in 2020, Russian Energy Minister Alexander Novak told news agency Interfax in an interview Continue Reading
The eurozone economy contracted at a record rate and by more than expected in the first three months of the year and inflation slowed sharply as much economic activity in Continue Reading
The eyes of the retail world are on Germany, the first major Western economy to start reopening bigger stores. Companies large and small, which have been hammered by the COVID-19 Continue Reading
Royal Dutch Shell Plc cut its dividend for the first time since at least the Second World War as the oil slump triggered by the coronavirus pandemic reshapes the energy Continue Reading
